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Analysts upgrade China's 2023 earnings projections on reopening hopes

News Snapshot:

Dec 2 (Reuters) – Analysts have upgraded forecasts for Chinese corporate earnings in 2023, on expectations that its economy will benefit from stimulus measures and the easing of COVID-19 restrictions. Analysts raised forward 12-month earnings of companies on the MSCI China index (.dMICN00000PUS) by 2% in November, data from IBES estimates showed. They had earlier cut the forward 12-month earnings by 15% between January and October this year on concerns over slowing growth. MSCI China's 12 month forward EPS estimates Refinitiv data also showed that earnings of Chinese large and mid-cap companies, with market capitalization of at least $1 billion,…

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